Yes — you can apply for additional borrowing while an existing Credicorp business loan is still active. This is sometimes called a top-up, and it follows the same application process as your original loan rather than being an automatic extension.
How a top-up works
A top-up is a new lending decision. We look at your company's current trading performance, the outstanding balance on the existing loan, and your repayment history with us. A clean track record on your existing agreement is taken into account positively, but it does not guarantee approval or a particular amount.
If approved, the top-up facility and any remaining balance on the original loan are typically consolidated into a single new agreement with a revised term and repayment schedule. This simplifies your position — one direct debit, one schedule.
When to consider a top-up
- An unexpected cost arises part-way through the original term
- A new contract or opportunity requires prompt capital
- You need to bridge a gap before other finance completes
Alternative: Credicorp Flex
If your funding needs are likely to recur, Credicorp Flex — our revolving credit facility — may be more efficient than a series of top-up applications. You draw against a limit as needed and repay when cash flow allows, without requiring a new agreement each time.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: How does the Credicorp business loan work?, What affects the amount Credicorp will offer?.